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CIH welcomes council housing reforms
Fri 26 Mar 2010
The government's reforms of council housing finance policy have been welcomed by the Chartered Institute of Housing (CIH).
Under the new system, councils in England will be able to keep the proceeds of property sales and council house rents.
This money will then be used to help pay for the construction of up to 10,000 new homes in each borough every year.
The CIH has said it is in favour of the reforms, as the previous system was "archaic and unfair".
However, CIH chief executive Sarah Webb said the government must ensure that sufficient capital finance is made available so that existing council housing stock and estates can be improved and turned into attractive places to live.
According to housing minister John Healey, the new system will give councils the freedom to fund and run their properties without central government subsidy.
He insisted that "not a single penny" of rent and the proceeds of sales will go to Whitehall.